A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.
Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans.
The Pittsburgh company reported a 39% gain in retail banking profits amid a lot of strong first-quarter numbers, yet it still fell short of analysts' earnings expectations by a penny and wants to push for stronger loan growth.
James Smith said he would decide soon whether he’ll seek the Republican nomination for governor. He said he was inspired partly by his recent work on a commission tasked with recommending fixes to the state’s fiscal and economic problems.
Many of the industry’s top executives — at big and regional banks alike — enjoy premium perks, including personal travel on corporate aircraft and minimal wait times for fancy medical exams. Here’s an overview of the special items disclosed to investors so far this year.